Free Assessment: 188 Cost Optimization Things You Should Know

What is involved in Cost Optimization

Find out what the related areas are that Cost Optimization connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Cost Optimization thinking-frame.

How far is your company on its Cost Optimization journey?

Take this short survey to gauge your organization’s progress toward Cost Optimization leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.

To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.

Start the Checklist

Below you will find a quick checklist designed to help you think about which Cost Optimization related domains to cover and 188 essential critical questions to check off in that domain.

Powell’s method Critical Criteria:

– What are your current levels and trends in key measures or indicators of Cost Optimization product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?

Mathematical Programming Critical Criteria:

– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Cost Optimization process. ask yourself: are the records needed as inputs to the Cost Optimization process available?

Business process Critical Criteria:

Discuss Business process adoptions and test out new things.

– Have the segments, goals and performance objectives been translated into an actionable and realistic target business and information architecture expressed within business functions, business processes, and information requirements?

– What is the importance of knowing the key performance indicators KPIs for a business process when trying to implement a business intelligence system?

– Do you design data protection and privacy requirements into the development of your business processes and new systems?

– What finance, procurement and Human Resources business processes should be included in the scope of a erp solution?

– If we process purchase orders; what is the desired business process around supporting purchase orders?

– To satisfy customers and stakeholders, which internal business process must we excel in?

– What are the relationships with other business processes and are these necessary?

– Will existing staff require re-training, for example, to learn new business processes?

– What would Eligible entity be asked to do to facilitate your normal business process?

– Do changes in business processes fall under the scope of change management?

– What business process supports the entry and validation of the data?

– How do we improve business processes and how do we deliver on that?

– How will business process and behavioral change be managed?

– How does the solution handle core business processes?

– Which Cost Optimization goals are the most important?

– How can the value of Cost Optimization be defined?

Combinatorial optimization Critical Criteria:

Learn from Combinatorial optimization decisions and catalog what business benefits will Combinatorial optimization goals deliver if achieved.

Systems development life cycle Critical Criteria:

Wrangle Systems development life cycle outcomes and secure Systems development life cycle creativity.

– Why is the systems development life cycle considered an iterative process?

– What are the five steps in the systems development life cycle (sdlc)?

Penalty method Critical Criteria:

Derive from Penalty method quality and look in other fields.

– Think about the people you identified for your Cost Optimization project and the project responsibilities you would assign to them. what kind of training do you think they would need to perform these responsibilities effectively?

– What role does communication play in the success or failure of a Cost Optimization project?

Project management Critical Criteria:

– How do you merge agile, lightweight processes with standard industrial processes without either killing agility or undermining the years youve spent defining and refining your systems and software process assets?

– With agile processes promoting the concept of self-directed teams, is there room for the conventional project manager or does this role also need to evolve to suit the principles of the new paradigm?

– Key problem solving knowledge resides with the knowledge workers, and not the manager. So, how do we adapt project management techniques to deal with this key reality?

– What of the risk of rework if initial architecture work overlooks what turns out to be critical? what is the probability of this happening?

– Which existing processes, tools and templates for executing projects can be applied to the agile project management framework?

– How much effort and investment in time and resources will be required to develop new tools, templates and processes?

– What scenarios in terms of projected cost, schedule, and scope could/should we plan for?

– So, how do we adapt project management techniques to deal with this key reality?

– Justification: what are your research questions and how do you motivate them?

– How will jettisoning certain processes and structure impact the business?

– Are the project teams ready to function within agile project management?

Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.

External links:

To address the criteria in this checklist, these selected resources are provided for sources of further research and information: